Discovering Singapore 2022

Transfer/Diplomatic Clause The standard diplomatic clause is 12+2 which means that the tenant can only exercise the right to pre-terminate the lease after the first 12 months but will need to provide additional two months notice or two months rent in lieu of such notice. Your employer may require that a Transfer or Diplomatic Clause be included in your lease, which would allow you to terminate the lease without a large monetary penalty in the event that you are transferred. Please note: this mushowever when the lease is renewed, and on subsequent lease renewals, a Diplomatic Clause is allowed. Generally, the tenant must show documentary evidence of his company transferring him to another country or that of his cessation of employment to invoke the diplomatic clause. Inspection When moving into a rented property, it is important to complete an inventory of the contents and record the condition of the premises. This inspection report may be used as evidence of the state of repair or general condition of the fixtures and fittings in case of a dispute at the end of the tenancy, particularly about the return of the bond and any damage to the premises. Usually, the inventory and inspection report are completed on the day taking possession and the tenant should receive a copy signed by both parties. However, the tenant is given 30 days to report any defects or faults in the premises which the landlord will rectify at his own cost. Helpful Hint: The inspection report must be filled out and signed by both parties. It is advisable that you take photos of existing damage when you move in, as further proof of documentation when you move out.

Additional Costs and Expectations

Security Deposit A security deposit is a one-time, refundable sum of money that a landlord would typically collect from a tenant to safeguard a landlord financially from damages to the rented property or leaves unexpectedly without paying rent, whereby a landlord can then off-set from the said security deposit. This security deposit is then refunded to the tenant when the rental period expires.

Advance Rent The tenant is required to pay the rent monthly in advance.

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Discovering Singapore 2022